Help with some info

Hi Dave

I am thinking that your account with Bank of America has been charged off and sent to Capital Management for collections. Is this account showing a zero balance? If a zero balance is shown besides the account, it means that the account has been sold out and you can't make any arrangements with them. You will have to deal with the collection agency only.

I will contact Capital Management requesting for the details of the account. After you have reviewed the details properly, you can make payment arrangements with them. If the account is not sold off, you can send money to BOA after working out your arrangements.

Check the SOL before you make any payment on this account. Since it is in charged off status, it might run out of the SOL of your state. The date of last payment will determine if the account is within the legal collection period or not. You will have to check the SOL of that state where this account was originally opened.

It does say charge off on one of the reports, the balance is still showing on all of the reports though. I'll contact them and see what they have to say. Thanks alot for your input. What % of a discount will these companies usually settle for?

You will have to cut the deal in the best way so that you gain the maximum out of it. Besides, you can get most of the financial charges and the late payment fees waived off. This will reduce the balance to a large extent.